EU Files Antitrust Charges against Amazon, Tech Giant May Be Fined Billions of Dollars

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EU Files Antitrust Charges against Amazon, Tech Giant May Be Fined Billions of Dollars
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European Union regulators have filed antitrust charges against Amazon, accusing the e-commerce giant of using data to gain an unfair advantage over merchants using its platform.

 

The EU’s executive commission, the bloc’s top antitrust enforcer, said Tuesday that the charges have been sent to the company.

The commission said it takes issue with Amazon’s systematic use of non-public business data to avoid “the normal risks of competition and to leverage its dominance” for e-commerce services in France and Germany, the company’s two biggest markets in the EU.

The EU started looking into Amazon in 2018 and has been focusing on its dual role as a marketplace and retailer. In addition to selling its own products, the US company allows third-party retailers to sell their own goods through its site.

Last year, more than half of the items sold on Amazon worldwide were from these outside merchants.

Amazon faces a possible fine of up to 10% of its annual worldwide revenue, which could amount to billions of dollars.

The company rejected the accusations.

 

Lillian Jijingi/Agency reports

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About Olalekan Awodehinde 5812 Articles
Olalekan Awodehinde is a seasoned investigative reporter. He is currently an editor @Afronaijanews.com and also a social media strategist, writer, freelancer. Our passion here is to keep you updated and give you undiluted, genuine information with professionalism. Contact|WhatsApp Me: 0807 637 6053

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